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Updated over 3 years ago on . Most recent reply

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Robert Wright
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Getting my wife on board

Robert Wright
Posted

My wife is of the Dave Ramsey thinking and continually states that debt is dumb and wanting to borrow money to purchase real estate is somehow immoral. I planned to BRRRR some properties since our primary residence is almost paid off. Her family grew up poor so she is very controlling of the money. I am the only income source in the family and she is a stay at home mom. I have tried to get her to read various books but she says I'm just being greedy and refuses to try to see my point of view. What did it take for any of you to get your spouse on board?

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Eric Starks
  • Investor
  • Orlando, FL
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Eric Starks
  • Investor
  • Orlando, FL
Replied

My advice which might not be popular is to take care of your student debt first.  You don't want that liability.  Then you will have more disposable income and she may feel better.  My wife and I also used Financial Peace University to get out of debt and start investing in the stock market.  I am now diversifying and also investing in real estate. @Tyler Gibson gave me some great advice.  Get your spouse on board before you buy a single property.  I try to slip my wife tidbits whenever I can.  She has only heard the real estate horror stories and none of the benefits of investing in real estate.  I am convincing her that I am educating myself, I plan to have experienced people around me, and I let her know that all the pod casts, YouTube videos and books talk about the mistakes people have made and how to avoid them.  The kicker for her was when I told her how much money we had in the stock market and letting her know that if she can trust me with X in the stock market, she can trust me with Y in real estate.  Good luck, try to build up her confidence and please realize that your marriage is more important. 

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